Can you reduce your business debt?
In all likelihood, your business will operate on trade credit. This can be a great resource for your company and can help you to grow. However, miss payments and you can spiral into debt very quickly. So, not only will you be in debt but suppliers will begin to cut you off, and your business […]
How to: Negotiate with debtors
Unfortunately, calling a client and demanding payment is not an effective way to collect a debt. Not only does it look unprofessional, you can end up scaring off your customers. It is difficult not to become cynical when working in credit control but remember that some customers will have a legitimate excuse for not paying […]
Small Business Owners Spending Time Chasing Late Payments
The Commercial Domestic Investigations team understands that British small business owners cannot afford to let late payments go unchallenged. A new study has found that UK small company owners are spending a significant amount of time on chasing unpaid invoices. Major business concern The research was carried out by Xero, an online small business accountancy […]
How to: recover debt from former clients
In an ideal world, we all like to believe that we can build a new relationship with a client and it well be long lasting, fruitful and never run into trouble, but sadly we don’t operate in an ideal world and the truth is, client relationship can become damaged for a number of reasons, if […]
How Can I Protect Myself From Bad Debt?
Commercial Domestic Investigations know that bad debt is a serious issue that affects a large number of small and medium sized businesses throughout the UK. According to R3, the insolvency industry trade body, more than 100,000 UK SMEs are owed an estimated £16 billion by insolvent companies. Bad debt is a problem which affects businesses […]
Why ask for help when you can do it yourself?
When you are running a business, it can be tempting to take care of every task yourself. You have spent time building your business and don’t want to let other people be responsible for important decisions. The aim of most businesses is to become successful and as the company grows so will the number of […]
Do you need a credit control department?
If you are running a small business, traditional job roles tend not to apply, every team member carries out a multitude of work to keep running costs down, but as you become more successful and your business begins to grow it becomes necessary to have specialist staff or departments to be solely responsible for certain […]
Become more effective with in-house collections
Credit control is a difficult and time consuming process, having to keep track of invoices, payments and clients that are over their payment terms. There are collection agencies, like Commercial Domestic Investigations, that can assist your debt recovery if it becomes contentious but there are some simple steps that you can take to become more […]
Warning signs that your business won’t be getting paid
It’s common knowledge in the credit control industry that the longer an invoice remains unpaid, the more difficult it will be to collect. At Commercial Domestic Investigations we have shared our tips and advice about how to avoid late payments and what you can do to encourage customers to make a payment. Some problems are […]
4 reasons to hire a collection agency
Credit control forms the foundation of any business, without it your business will fail. That is why it is important for your credit control department to run smoothly and efficiently. Hiring a collection agency means that they can deal with pesky debtors and customers that are avoiding you, allowing you to spend time on more […]
